S&P might upgrade Sundial

S&P said it placed its B- corporate credit rating on Sundial Group LLC on CreditWatch with positive implications.

In addition, the agency placed the B- issue-level ratings on the company's senior secured revolver and term loan B on CreditWatch with positive implications.

The placement follows the announcement that Unilever has entered into an agreement to acquire Sundial, S&P explained.

“We expect the transaction to close in the first quarter of 2018. If the transaction closes, Sundial would become part of financially stronger Unilever (A+/stable/A-1),” the agency said in a news release.

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